HarborOne Bancorp (NASDAQ:HONE) Sees Strong Trading Volume – What’s Next?

HarborOne Bancorp, Inc. (NASDAQ:HONE) shares saw an uptick in trading volume on Friday . 312,168 shares changed hands during mid-day trading, an increase of 113% from the previous session’s volume of 146,660 shares.The stock last traded at $11.77 and had previously closed at $11.87.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HONE. Piper Sandler cut their price objective on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, October 25th. StockNews.com lowered HarborOne Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 25th.

HarborOne Bancorp Trading Up 1.3 %

The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average of $12.73 and a two-hundred day moving average of $11.68. The firm has a market capitalization of $533.78 million, a price-to-earnings ratio of 42.39 and a beta of 0.73.

HarborOne Bancorp (NASDAQ:HONE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $79.60 million during the quarter, compared to the consensus estimate of $43.37 million. HarborOne Bancorp had a return on equity of 3.82% and a net margin of 3.68%. Research analysts predict that HarborOne Bancorp, Inc. will post 0.64 EPS for the current fiscal year.

HarborOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Monday, October 14th were issued a $0.08 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.66%. HarborOne Bancorp’s dividend payout ratio (DPR) is 114.29%.

Insiders Place Their Bets

In related news, CMO David E. Tryder sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $12.48, for a total value of $162,240.00. Following the completion of the sale, the chief marketing officer now directly owns 15,159 shares in the company, valued at approximately $189,184.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Empowered Funds LLC grew its holdings in HarborOne Bancorp by 8.2% during the 1st quarter. Empowered Funds LLC now owns 103,974 shares of the financial services provider’s stock worth $1,108,000 after acquiring an additional 7,842 shares during the period. Russell Investments Group Ltd. increased its stake in shares of HarborOne Bancorp by 13.7% during the 1st quarter. Russell Investments Group Ltd. now owns 39,703 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 4,790 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of HarborOne Bancorp by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,342,754 shares of the financial services provider’s stock worth $24,974,000 after purchasing an additional 6,511 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in HarborOne Bancorp by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,781 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,498 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in HarborOne Bancorp by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 216,196 shares of the financial services provider’s stock valued at $2,406,000 after buying an additional 11,438 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

HarborOne Bancorp Company Profile

HarborOne Bancorp, Inc operates as the holding company for HarborOne Bank that provides financial services to individuals, families, small and mid-size businesses, and municipalities. The company operates in two segments, HarborOne Bank and HarborOne Mortgage. Its primary deposit products include checking, money market, savings, and term certificate of deposit accounts; and primary lending products comprise commercial real estate, commercial, residential mortgages, home equity, and consumer loans.